Roundtable with MOTIE Minister, Mr Ahn Dukgeun and the Foreign Business Community in Korea
On March 24, The Ministry of Trade, Industry and Energy (MOTIE) hosted a Roundtable with the Foreign Business Community at Hotel Parnas, gathering CEO from major foreign-invested companies and Chairmans from the main Foreign Chambers of Commerce and Industry in Korea. The French business Community in Korea, was represented by the Chairman of the FKCCI, Mr. David-Pierre Jalicon and by the CEO of Renault Korea, Mr. Stephane Deblaise. The meeting was an opportunity to discuss Korea’s investment policies for 2025, and to foster open dialogue on the expectations and concerns of foreign enterprises in the country.
In his opening address, Minister Ahn Duk Geun of MOTIE reaffirmed the Korean government’s commitment to improving the investment environment for foreign companies, by increasing the cash grant incentives for example, and looking forward alignment with global business standards. He also highlighted Korea’s ambition to enhance support for advanced industries, R&D, and the settlement of international talent through more flexible administrative procedures.
The Chairman of the FKCCI in his remarks has highlighted the strength of the Franco-Korean economic relationship. In term of trade, France reached in 2024 its highest-ever level of exports to Korea, achieving an almost perfect trade balance with the Korean exports to France. In term of investment, many French firms have reaffirmed their commitment in Korea’s future. Landmark projects include Renault brand full relaunch in Korea, Arkema’s acquisition in advanced materials, EDF Renewables’ offshore wind initiative, and PASQAL’s establishment of a regional quantum computing hub. Strategic cooperation in sectors like semiconductors, hydrogen, and batteries also continues to deepen, with Air Liquide and OP Mobility developing key infrastructures in support of Korea’s industrial base.
Despite this momentum, Mr. David-Pierre Jalicon voiced concerns over persistent regulatory hurdles. In particular, he addressed the level of “off sets” requests in the Defense sector, the disproportionate costs for introducing new products in the field of pharmacy, and the abrupt suspension of French poultry imports due to the non-recognition of French HPAI vaccination protocols, despite similar restrictions being lifted in the U.S. and Canada. He urged swift reconsideration of these measures. In response, Mr. Ryu Peob Min, the Director General of Cross-border Investment Policy at MOTIE, assured raising the issue with the relevant ministries and promised corrective measures where necessary. He stressed the importance of ongoing dialogue and transparent cooperation.
During a separate talk with Deputy Minister for Trade and Investment, Mr. Park Jung Sung, Mr. David-Pierre Jalicon called for greater inclusiveness of French companies in Korean value chains and inquired about key sectors where Korea seeks foreign partnership.
Using the slogan "Born in France, Made in Korea," the CEO of Renault Korea Mr. Stephane Deblaise, stressed the dedication of Renault in contribution to competitiveness of Korean market, emphasizing the role of its hybrid vehicles in green transition, in particular the successful new “Grand Koleos”. Director General¸ Ryu Peob Min responded to Renault Korea’s motto by stating, “Your success is also our success,” and emphasized continued policy support for eco-friendly vehicles and future mobility.
In conclusion, Mr. Tae Hyung Kim, Commissioner of Invest Korea, KOTRA, raised attention to Korean government’s decision to temporarily increase maximum cash support for R&D centers from 50% to 75%, exclusively for the year of 2025. This is to show the government’s strong commitment to attract foreign investment. He promised to effectively communicate government policies in a timely manner and actively support business activities in Korea. A follow-up meeting with MOTIE is planned to address the FKCCI specific issues.
